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English 49
Search Results 0 to 48 of about 49 (some duplicates have been removed)
FOX News
Dec 23, 2012 9:00am PST
.5 trillion in deficit reduction. i don't know if that will be possible in the next nine days. >> all of this symptomatic of the huge casam in washington. >> we talked to rick warren, the author of the -- of "the purpose driven life," the best seller and we talked about washington and talked about newtown and also christmas in this somewhat bleak season. in terms of washington he said he doesn't think politics will solve anything. it really will have to be solved in people's daily lives in terms of their spiritual awakening. he says that the fixing and the blame is so great here that instead of trying to fix the problem we try to place the blame, and he is certainly right about this whether he is right about his prescription that nothing gets done in this town. and we have seen it in this last month of the fiscal cliff. >> looking forward to seeing that interview and others on fox news sunday. thank you very much. >> thank you, doug. and you can catch the entire exclusive interview right here on fox newschannel. it airs after america's news headquarters. >>> the national debt clock ke
MSNBC
Dec 28, 2012 11:00am PST
. and really, is not interested in a balanced approach to deficit reduction. it's been pretty clear that that's the story we have been telling and it happens to be the truth. >> i understand that two of colleagues proposed cuts to medicare for a hike in the debt ceiling. what do you make of that offer? >> i think one of the things that people don't realize is that it's a dirty little secret. the republicans don't want to cut the things that americans want cut. and they want to cut things that americans don't want cut. poll after poll shown americans do not want deficit reduction done by cutting medicare and medicare and social security. so they propose and saw the same scenario when paul ryan put the budget out and because the american people rejected the kind of draconian cuts that the republicans want to make so, you know, that's a nonstarter in the senate. i think it's a nonstarter with the president. sure can pass the house but going nowhere past that. >> the smaller offer we hear that the president is making at 3:00, to congressional leadership, what kind of offer would you like to see t
CNBC
Dec 28, 2012 5:00pm EST
. the deficit has been improving. the federal deficit has improved over the last couple quarters. >> so is it the case that perhaps because the economy has done better that perhaps that would save us from a credit rating downgrade even if we go over the cliff? >> i don't expect another downgrade from the other rating firms. the next step would be putting it on negative watch. all three major credit rating firms have a negative outlook. the next step is a negative watch and then a downgrade. we don't expect that to happen. especially if the debt ceiling is raised, which is likely, not many people have been speaking about it, but that's likely to come out over the next couple of weeks. then there's the entitlement reform, which probably is more importantly actually than the deficit talks. >> so in terms of entitlement reform, if we have a mini deal, so to speak, where certain tax rates are maintained for the middle class, let's say, but the amount of time in which entitlement reform can be worked out is an extended time frame that could actually work against the credit rating agencies in
CSPAN
Dec 29, 2012 7:00am EST
of these politicians, mayors, governors should take a half cut pay to pay down the deficit. host: we are going to move on to darwin on the line for independents. caller: it is like the pentelikon, back in 1968 i was even fighting with the pentagon over budgets. you always had to have everything kept the same. nobody was going to change anything because next year there were going to pop everything by 10%. they told you got to worry because you would get 10% more. that goes all the way back to 1968. they just keep dwelling on one thing over and over again. i would like to know from the boston globe or the herald is asking for pictures of -- host: let's move on to del on the line for democrats. caller: this is an outrage that they cannot tax the wealthy by an additional 4%. this is the lowest tax rates that have ever paid in the united states. considering that their incomes are vast compared to what they used to be many years ago when they paid a much higher rate, they are wealthy and they do not want to pay. 4% does not amount to enough to affect the deficit. maybe we ought to consider 15% or something
MSNBC
Dec 23, 2012 5:00am PST
the deficit so social security cuts remain on the table but in the mean time, the president proposed his own plan b, to extend the bush tax cuts on income under $250,000. >> once this legislation is agreed to, i expect democrats and republicans to get back to washington and have it pass both chambers and i will sign the legislation into law before january 1st of next year. it's that simple. >> well, i was surprised by the events this week in terms of the boehner total disaster. i just -- i didn't really get the whole plan from the beginning and i don't understand why you have people vote for a tax increase that mappings to break the pledge that they've all signed but it has no chance of becoming law and clearly, his caucus didn't understand it either. dillon what did you think? >> two things. first and foremost, i think boehner was trying to get action in washington, which we haven't seen and people have been very critical of this move. i thought it was a fairly shrewd political move in that if they were able to actually get the package passed -- >> right. >> it would have put the ball back
CSPAN
Dec 27, 2012 7:00am EST
the difference between the annual deficit and the national debt. the national debt is the fiscal cliff. we say it's unsustainable. from a mathematical standpoint, it is almost insurmountable. the only thing these taxes will do, i have graduate students who could not put into words what a trillion dollars was. host: go ahead and finish your thought on what these taxes will do. caller: what they will do is they will give the politicians a little leeway to fool around with the national deficit, the annual deficit, but they will not put a dent in the $16 trillion debt that we owe. that is the problem. host: we appreciate that call. over the past couple weeks, c- span has been conducting interviews with some of the retiring members. we have been showing those interviewed this week. tonight, one of the retiring members we spoke with is representative lynn woolsey, a democrat of california, served about 20 years. here's a portion of that interview. [video clip] >> i was on welfare because my children, ages 1, 3, and five years old, their father was diagnosed manic depressive, he would not do anything ab
MSNBC
Dec 26, 2012 11:00pm PST
congress is on pluto and we're all on earth. they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play hardball. but i think they'll have a different argument later in the year. >> i guess both believe it's better to go over the falls than cut a deal that's going to hurt them at home. tea party people don't respond to boehner or to cantor or mccarthy or any of them. somebody in the next tea party is going to be yelling from the back, you sold us out. i think that's why the tea party is never going to be functional. they don't really respond to getting things done. they respond to anger back home. >> i think 2014 democrats are also aware of these tax increases. they don't want to
MSNBC
Dec 28, 2012 1:00pm PST
hope they never come to a deal because this is the best deficit reduction package the democrats are ever going to get. but let's look at what really is going to happen here. i would be more surprised if they came to a deal in the next five days than i was by the roberts vote on obama care. there's no way these guys are going to come to a deal, and the reason is this. the president has got the upper hand, and his most important partner is the weakest person in this, which is john boehner. john boehner is on the verge of losing credibility with his caucus. he can't take a deal to his caucus that will pass without the help of nancy pelosi, which will pull the entire deal to the left. so what they have to do is they have to go over the cliff. we're just talking about politics, we're not talking about finances here. they have to go over the cliff. that strengthens boehner's hands because now everybody is paying a hell of a lot more taxes and people are blaming the republicans, and now boehner can go to the caucus and maybe get 200 and a few votes and then with nancy pelosi pick off a
FOX News
Dec 28, 2012 8:00am PST
, we, republican are not trying to solve the fiscal cliff. we're trying to solve the debt and deficit. can you explain that? >> sure can. yeah, the white house has been very focused on what do we have to do to just get past the fiscal cliff. let's get over this bump and keep spend and keep going. in the house we're actually trying to solve the debt and deficit. let me illustrate this. we have a trillion dollars in deficit spending last four years. president says let's go back to the clinton levels of taxation. if we went back to the clinton levels of taxation we're still double the highest bush era of deficit spending still because spending was accelerated so much in 2009 and 2010. we're trying to bring the spending levels back down. on the contrary if we just brought the spending levels down to the clinton level spending instead of tax level going up to clinton level of tax it is would solve this. we're trying to solve the debt and deficit. we're trying to say how do we get out of debt. the president is saying let's get past the fiscal cliff and let's keep moving on. that doesn't sol
FOX News
Dec 27, 2012 1:00pm PST
, the fact we've had four straight years of trillion dollars plus deficits, when the president says he wants to raise taxes on those $250,000 or above, that only generates $850 billion over the next ten years. we have had 1.422, 1.29 and on the way to another trillion dollars deficit for these years. what the president is proposing is not pragmatic whatsoever and really is a reflection of him i suppose living in a fantasy world. >> what do you think the deal that speaker boehner offered the president? >> well, i was against the plan b because i don't see this as being a tax revenue increase issue. most important is spending. we could georgia back -- go back to the simpson bowles commission. the most important thing, we have to deal with spending. we live in an america where the federal government now is spending 25% of our gross domestic product. when you study the obama budget that would increase to 32%. that's where the problem has to i am emanate from. the spending side of our budget is 62% of what we spend money on. it's not just about defense or discretionary. >> is there any indication
FOX
Dec 28, 2012 5:00am EST
the deficit, the president wants to increase taxes on people earning $250,000 or more but he did show his willingness in negotiates with boehner to raise that number to $400,000. that, however, went nowhere. meanwhile, boehner broke with the gop. it was his so-called plan b offering to raise taxes on people earning more than a million dollars but republicans would not budge on that. they do not want any more taxes. they want to make some cuts in spending and they blame the president for pushing the nation to the brink. that is the latest here at the white house. back to you. >> thank you. >>> what do you think about congress not reaching a deal on the fiscal cliff? do you think it is possible that i compromise will be reached before the deadline. share your comments on our facebook page. just search for fox 5 morning news. no space between fox and the number 5. we may share your comments on air. >> i'm sure you all have a lot to say. we would love to hear t. >>> a big story we are following. norman schwarzkopf has died. the retired general died from come indications of pneumonia. he was g
FOX
Dec 28, 2012 5:00pm EST
of more economic growth and deficit reduction. guys, i can hear you over here. i believe such proposal could pass both houses with bipartisan majorities, as long as those leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. that is the way this is supposed to work. if can you get a majority in the house, then can you get a majority in the senate, then we should be able to pass a bill. so the american people are watching what we do here. obviously their patience is already thin. this is deja vu all over again. america wonder yes it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything always has to wait until the last minute. well, we're now at the last minute. and the american people are not going have any patience for a politically self-inflicted wound to our economy. not right now. the economy's growing but sustaining that trend is going to require elected officials to do their jobs. the housing market is recovering but that could be impacted i
CSPAN
Dec 26, 2012 7:00am EST
their deficit and we cannot, the world will switch to euros. there is a tweet here -- guest: the cbo is supposed to be a political, but it cannot be too alarmist. if we go over the cliff, we are looking on january 1, some of this is already milton. about $600 million -- $650 billion in spending cuts and tax increases. that is about 4% of gdp. that is an enormous negative stimulus. a detraction from demand. that would surely be a deep recession. the cbo relies on simulation models that did not take into consideration investor sentiment, the reaction of consumers, and so forth that they wholly lose confidence in their government. if we go over the cliff and stay there, people will start to conclude that washington cannot manage its affairs. all bets are off on economic modeling. it is impossible to say what happened that other than it would be very negative. host: one piece that you actually did right has this headline -- take the idea of a recession next year. with the perspective of everything else going on, when a recession look like? guest: it depends on how we get there. if we have a fiscal c
FOX News
Dec 27, 2012 10:00am PST
, if we want to make a dent in the deficit. i mean this is the choice that is going to be in front of us. if, we have to do four things if we want to reduce the deficit. we have to get more revenue, we have to cut domestic spending, we have to trim and reform the health care programs in particular of medicare and medicaid and we have to cut defense. if we do all four of those things we can make significant down payment getting deficit under control. if we do some of them, the numbers are not there enough to make as much progress as we want. this is where mark and i agree. over next six to nine months we could see substantial progress towards smart fiscal policy in the country if the two parties come together. heather: we'll see what happens. thank you both very much for joining us until monday night. thank you. >> merry christmas. happy new year. [heavy breathing]. gregg: boy, remember that, video from april of 2011. monster tornado tearing through tuscaloosa, alabama, devastating the community and alberta baptist church. ever since then the church's pastor has been fighting insurers and
MSNBC
Dec 22, 2012 4:00am PST
a deal that would include deficit reduction and tax reform. that has fallen apart. so there is a big question mark about what happens now. how they move forward. president obama boarded air force one friday evening with his family. as they left for hawaii. but a little earlier in the day, he met with senate majority leader harry reid and spoke with house speaker john bainer and addressed the nation on the topic of avoiding the fiscal cliff. called on lawmakers to compromi compromise, to get a deal done. he acknowledged time has run out for getting a larger package. what they need to focus on now is getting a smaller deal that will avoid taxes from going up on middle class americans. meanwhile, a very rough friday for house speaker john boehner, really spent most of the day, explaining what has been views as a political blow, when on thursday, many republicans refused to back his plan b. that is speaker boehner's alternative plan for avoiding the fiscal cliff and called for allowing rates to go up on those making $1 million or more. here is a little more of what house speaker john boe
KRON
Dec 21, 2012 5:00pm PST
insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >>reporter: the remarks came after house speaker john boehner failed to muster enough of his party's support to bring his "plan b" to the floor. his proposal would have effectively raised taxes only on those americans making more than one million dollars a year. >> we had a number of our members who just really didn't want to be perceived as having raised taxes. >>reporter: the two sides each left the capitol for the christmas holidays, blaming the other for inaction. democrats said thursday's failure in the house pointed to a need for more compromise by the g-o- p. >> house republicans have gotten the message loud and clear that a comprehensive solution to the looming fiscal cliff will need to be a bipartisan solution. >>reporter: senate republican leader mitch mcconnell said the next move needs to come from the president. >> he is the only one that can do it. this isn't john boehner's problem to solve. >>reporter: without a deal, steep tax hikes and massive government spending cuts
CSPAN
Dec 22, 2012 7:00am EST
if you are wondering about reducing our deficit next year. host: candace on our line for independents. caller: i am never been able to get through before thank you for taking my call. unfortunately, i have to say that the republican congress is not going to do anything. you have to look that the last 03 years. they have not done a thing. the-you have to look at the last -- you have to look at the last two years. they have not done anything about job ax or the infrastructure build. i read an -- they have not done anything about the jobs act or the infrastructure build. i read an article about $2.60 trillion could be saved without touching safety nets. it is a well-written article. he talks about how eliminating unproductive and unnecessary tax spenders. the-tax expenditures. he especially talks about -- he especially talks about tax cuts. caller: -- guest: the republicans have been talking about spending cuts. it is true that they have not been as eager to pass the president's's stimulus plan. predictably, those two things conflict. the republicans want to go in the other direction. it
MSNBC
Dec 29, 2012 9:00am PST
the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have spent months drawing partisan lines in the sand. the president's proposal to raise tax on the top 2% of americans won't even pay one-third of the annual interest that's now owed on this massive $16 trillion debt. in fact, the president's tax hike would only fund the government for eight days. >> the senate is set to reconvene sunday at 1:00 eastern time. the house expected to be in session sunday. are going to start around 2:00 with the first votes coming around 6:30 p.m. let's head on over to the white house. kristen welker standing by. a lot happening in washington, d.c. a lot happening i would assume at the white house. but how engaged is the presidented to in moving this thing forward? >> reporter: good afternoon, t.j. i am told there are conversations going on at the staff level. as you know, he met with co
NBC
Dec 22, 2012 6:30pm EST
while extending unemployment insurance and laying the groundwork for deficit reduction. >> i expect democrats and republicans to get back to washington and have it pass both chambers. and i will immediately sign that legislation into law. >> reporter: house speaker john boehner also headed home after a bruising week. his own conference refused to back his proposal, which would have allowed taxes to go up on the wealthy, delivering a stinging blow to his leadership. today he faulted the president and congressional democrats for the impasse. >> unfortunately, the president and senate democrats have vowed to reject and veto all of our proposals while failing to offer responsible solutions of their own. >> reporter: the prospects for a deal remain grim. on friday senate republican leader mitch mcconnell said his strategy forward is unclear, but stressed time is running out. >> the u.s. economy is at stake here. millions upon millions of families are counting on us to do something. >> reporter: while the president expressed measured confidence -- >> call me a hopeless optimist but i actu
NBC
Dec 29, 2012 6:30pm EST
of tax reform and deficit reduction. >> the prospects for the economy are incredibly dim until we put in place a bigger deal, tackle these challenges, and put some certainty into the economy and boost confidence. >> reporter: meanwhile, americans watched with worry and frustration. >> i think they're all failing us a great deal and i'm so sick and tired of them fighting. >> the equivalent of worried about your mortgage after you're already homeless. so it's, like i said, sad. they have a job to do and they're not doing it. >> reporter: now, with public pressure mounting, the house and senate are expected to be back in session tomorrow, ready for a vote that could impact the economy for better or for worse. kate? >> kristen welker at the white house. nbc's moderator of "meet the press" david gregory joins me now. as we've said, david, you sat down with president obama this afternoon for an exclusive interview that airs tomorrow morning, but give us a hint. is he optimistic? do you come away with any hope that we're going to have a deal before the deadline? >> i'd say a couple things. i
ABC
Dec 29, 2012 6:30pm EST
to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, virtually everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paychecks, starting in january, where the temporary 2% payroll tax cut is set to expire. don't assume there will be a mini-deal, a source close to the meetings going on tonight, the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon karl. of course, this waiting game is already affecting americans' 401(k)s. the stock market, five straight losses. let's bring in bianna golodryga. if these lawmakers thought that waiting to the 11th hour wouldn't have an effect, look no further than the stock market. >> take a look at what happened just the few days. the dow lost 158 points. for the week, down 252 points. david, it's real money. the average 401(k) lost $3,000, $4,000. december is traditionally a good month for the markets. >> and for home sales. up
ABC
Dec 29, 2012 6:00pm EST
or address the long-term deficit crisis. if they fail to pass a mini-deal, almost everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paycheck as the temporary tax increase is set to inspire. the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon karl. this waiting game is already affecting americans' 401 cans. the stock market, five straight losses. let's bring in bianna golodryga. >> take a look at what happened just the few days. the dow lost 158 points. for the week, down 252 points. david, it's real money. lost 3,000, $4,000. december is traditionally a good month for the markets. >> and for home sales. here's what the president had to say about that. >> america wonder why it is, in this town for some reason, you can't get stuff done in an organized timetable. why everything has to wait until the last minute. we're now at the last minute. the economy is growing. the housing market is recovering.
FOX Business
Dec 26, 2012 1:00pm EST
it because it's required for congress to authorize borrowing money to pay our debt and deficit obligations. it's, the way i look at it, it is a mere constitutional technicality and we should raise it. i would like to make one point about on the downgrade issue that he just talked about. if we go over the fiscal cliff, that would certainly be no reason for a downgrade because we would be cutting the deficit and the debt. lori: right. >> but if we kick the can down the road here and don't do anything with a short-term solution, then i think it would be reasonable for the debt, excuse me for --. lori: another downgrade. >> for us to be downgraded, excuse me. lori: let me send it back over to you. there is a line of thinking if we do suffer a second credit downgrade that it could actually have more of ramification than just one downgrade because you do have a handful of credit agencies, right? if you're creditor of the united states and looking at the credit rating and now you have not just one but two, so you have a majority of more negative credit ratings versus pristine credit rating across
CNBC
Dec 26, 2012 4:00pm EST
out of deficit over ten years, isn't that what we really have to do? it seems to me i would really be interested in investing in american equities if i knew the financial situation was under hold >> you say the ends justify the means, no matter how painful? >> it doesn't matter how painful it is and it will be a short shallow recession if we go into it. if we kick the can down the road as so many of you are saying we hope would happen. that's not what should happen for the long-term future of the country. >> you're saying, come on, folks, let's settle. it won't be that big of a deal. right? >> i do disagree with howard a little bit in that i don't think cutting $7.3 trillion, the way this deal says that we should, is the best way to -- to deal with our long-term budget issues. kind of like, you know, you know you have to lose weight so you starve yourself as opposed to some sort of pragmatic balance of, you know, diet and exercise and this deal doesn't get you to the pragmatic part. the flip side, one, cbo projections about future outcomes are based on things being equal and i woul
CNN
Dec 22, 2012 2:00pm PST
with deficit reduction that would have dealt with these tax hikes, spending cuts, trying to work out a plan for entitlement reform and tax reform. what's now being worked out is to avert those tax hikes. as president obama wants it, he wants it up to folks earning $250,000, and also wants to deal with unemployment insurance getting that he can extended for unemployed americans but that bigger stuff kicked down the road. >> brianna, will americans actually see their paychecks affected january 1st without a deal? >> reporter: if no deal, that is not expected. technically, the tax hikes would go into effect then, don. but there would be a whole lot of pressure on washington to act, even if we were to go over the fiscal cliff. and because of that, payroll processors would wait to use the new math, if you will. and a lot of people wouldn't see an increase in the taxes taken out of their paychecks until late january or early february when it was clear that the fiscal cliff was here to stay. >> brianna, i am not by nature a jealous person at all. but are you in waikiki? is that waikiki? because i
ABC
Dec 29, 2012 4:00am PST
-term deficits and debt. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. >> john, we appreciate the clarity, even if it's depressing. thank you very much. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. >> hi, dan, bianna. we begin in australia, with a confrontation with a shark. it cost a surfer two fingers and a chunk of his leg. the 29-year-old was surrounded by a pod of dolphins when the shark attacked yesterday. >> my legs. >> and witnesses say the man used his surfboard to fight off the shark. but the shark bit off two of his fingers. >>> and police in new york city are searching for a woman who pushed a man to his death in front of an oncoming subway train. police are checking homeless shelters and psychiatric units for the woman seen in this surveillance video running away from the scene of that crime. authorities released a sketch of that suspect. investigators used a smartphone and a bottle prescription pills to identify the victim. he is the
MSNBC
Dec 29, 2012 4:00am PST
insurance for americans looking for a job and lays the ground work for more economic growth and deficit reduction. >> the president is optimistic that a deal can be reached midnight on new year's eve. listen to senate minority leader mitch mcconnell. >> we had a good meeting down at the white house. engaged in discussions in the hopes we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. >> and the senate is set to reconvene sunday at 1:00 eastern time. the house also expected to be in session on sunday. they'll start at 2:00 eastern time with the first votes coming at 6:30. let's head up to capitol hill. mike viqueira is there. so what? even if they reach a deal today or tomorrow? do we have time to get this dup? >> i think so, t.j. if they sign off from everybody in the senate. if everybody stands up, no & nobody objects. they call it unanimous consent around here. they can wave their hansory anything. badda bing, badda boom. it's out of here. you look at senate leaders on the floor, and yo
ABC
Dec 29, 2012 8:00am EST
-term deficits and debt. we weren't that far from a deal two weeks ago. but we are today. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. and we can't find a way to reason together. >> john, we appreciate the clarity, even if it's depressing. thank you very much. john avlon. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. good morning, sir. >> hi, dan, bianna. mr. avalon, good morning, everyone. we begin in australia, with a confrontation with a shark. it cost a surfer two fingers and a chunk of his leg. the 29-year-old was surrounded by a pod of dolphins when the shark attacked yesterday. >> are you all right? >> yeah, i got my legs. i'm good. >> and witnesses say the man used his surfboard to fight off the shark. but the shark bit off two of his fingers. and sank its teeth into his legs. other surfers came to the man's aid until paramedics arrived. >>> and police in new york city are searching for a woman who pushed a man to his death in front of an o
FOX
Dec 28, 2012 6:00am EST
to address the nation's deficit and with the clock ticking, neither side is giving up ground. >> the american people i don't think understand the house of representatives is operating without the house of representatives. it is being operated with a dictatorship of the speaker. >> this is a conversation we should have had months ago and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: the president has called on lawmakers to pass a scaled-down legislation that would spare tax increases on the middle class and leave more sweeping spending cuts and tax hikes to next year. house majority leader eric canter says the house could be in session all the way up until january 2nd dealing with this issue. that is the day before the new congress is sworn in. now, today's meeting here at the white house is the first face to face meeting between the president and gop leaders since december 16th. senate minority leader mitch mcconnell has indicated that he is eager to hear from the president who i
FOX News
Dec 26, 2012 10:00am PST
has to be matched with real action, spending cuts and other ways to reduce the deficit, that is exactly the fight we are fashion. he doesn't want to have that. republicans are dying to get into that. >> reporter: do you think the president for political reasons wants to go over the cliff? barrasso said so. look, there are a bunch of others who think so. >> there are certainly some on the left who also, just like conservatives, there are some on the left that do. i don't think the president does. part of the reason, just like i don't believe john boehner actually does the house speaker. there is this group in the middle, first of all they are not sure where the political blame would lie. it could end up on them and they want want to have that happen. second of all these are deal mayors. they came to washington to get deals done. and they see the result, the goal as a deal to get past this rather than looking at the numbers. the folks on each side eve are looking at the numbers and they say the deficit would be in better shape and the economy in the long run is in better
MSNBC
Dec 27, 2012 3:00am PST
, who are providing us also with the means to float the deficit. these are the people providing a lot of our financing. well, at some point if this goes on long enough, they begin to think, hold it. >> who's writing a lot of our financing? >> mainly foreign governments as well as markets. holding on to treasuries and the rest. so the question, then, at some point do they go, hold it. if these guys aren't serious, why am i depending upon them so much? and the scariest single scenario is ultimately people start saying before i continue to float the united states, i want to get a slightly higher return to take -- in order to -- because of this risk. because of this uncertainty. that is the day the spiral begins because that's the day mr. bernanke and his colleagues have to think about raising rates in order to attract the necessary financing. we don't want to get there. and what's so scary about this twofer of the cliff and the debt ceiling over the next two months, basically till the end of february, is for the rest of the world looking at us, we essentially have -- it's not so much nex
CNBC
Dec 26, 2012 3:00pm EST
solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a climate of slow growth, even more slow growth than the economy which would be the kind of a climate where you as a ceo wouldn't want to invest in that anyway, you know what i mean? >> so i think a grand bargain won't create a slow economy. i think it will restore confidence and we'll all invest. we'll know what the rules are and the game plan is. weied be ready to move ahead. we have opportunities to grow all the way around the world. we need to know where to put our capital investment. if we know what the rules are, we'll invest. 60% to 65% of our costs are people and we put people back to work every day. >> you don't expect a grand bargain? >> no. >> meaning? >> a short-term fix and perhaps a recession. they talk about this bungee approach and i don't think that's helpful. let's take it away from american businesses and take it away fr
FOX News
Dec 26, 2012 8:00am PST
family would pay 2,000 to $4,000 more in taxes next year. but, if you're a deficit hawk, you might be happy with this news. the congressional budget office estimates that with all of these new tax revenues, plus those mandatory spending cuts kicking in january 1st, that would all cut the deficit in half next year to about $600 billion. kelly? kelly: we would go through this for about half a year. then there's a talk among some people, that we would actually rebound at the end of six months or so. but that is a lot of pain to go through. is there any idea of what could happen to the economy or stock market as a result of congressional inactivity? >> well, yeah. the cb. off and many private economists say that the $600 billion in fiscal tighting, as you say would push the economy into recession next year and send the unemmoment rate to back above 9%. a survey of investment managers found 60% of the them see a drop in the dow industrials of 10% or more if the cliff is not avoided. kelly? kelly: boy, that is very ominous. peter, thank you. hopefully something can be done. peter barnes.
CSPAN
Dec 25, 2012 8:00pm EST
in infrastructure and dealing with the deficits were more -- in a more balanced way. it was about what our obligations are to each other. it was about big things. those are very, very big things. i will say that, for all of the critique about whether our campaign was about big things or not, the preoccupations of people who write about that -- and i used to do that for a living -- i don't try to separate myself -- many of them are my best friends -- there is an awful lot of horse race coverage of this presidential race. there is such a preoccupation with who will win and who will lose and so little real interest in what the implications are. >> we were talking about pulling. >> public polling is so voluminous now. any to kids with an abacus can do a poll of the corner grocery store and some national news are in position will cover it as if it is news. and maybe the billion tommy pulled him out today. -- the billy and tommy poll came out today. it can be done sound yet they produce results that were wholly different than what we knew to be the case. yet it would drive coverage. the gallup p
CNN
Dec 26, 2012 2:00am PST
, realistically can there be a grandiose bill that will attempt to solve our spending, deficit problem, with the overall framework? or talking about a band-aid? >> personally, i don't think we'll get the big plan in the next six days. it would be great if we could. >> the whole enchilada. but at least if we can get an appetizer -- no, seriously. if we can get assurance that realistic work is being done to provide tax relief, regulatory relief. the two big laws passed previously in 2010. affordable care act, well intentioned, very costly and those are posing problems too. >> earlier this week, we spoke with grover norquist. you signed the pledge not to sign taxes. >> i did. >> he supported speaker boehner's plan "b" and said it wouldn't violate his pledge. here's what he told us earlier this week. listen. >> i think in fact, plan "b" is a good step to protecting tax cuts for everybody. >> if you look at current law, current law says as we all know, part of the fiscal cliff '01, '03 tax relief measures will expire on january 1st. at this point, everybody's taxes go up. we all know that.
KRON
Dec 28, 2012 7:00am PST
on the project at 25,000 white elie the lights to the deficit is caused by the bay bridge is part of the lights go to our artists villareal . >> project organizers said $8 million, privately funded project is the largest of its kind. >> about four times larger than the eiffel tower in paris. >> the project is expected to be finished on march 5th be a place for two years. >> it will be only visible from the north side of the bridge will not be visible to those driving on the bridge. >> did to it were shot and killed--one person shot and killed and one person stab to death. >> a meeting coming up with the white house as america tries to avert the fiscal cliff. plus a free ride on many. we will tell you why coming up after the break at the kron 4 morning news conreturns in two minutes. >> ,h >> overnight, three people were killed and oakland. all of them at different locations. i will have the details coming up. >> the clock is ticking for a solution in washington. we are just four days away from falling off the fiscal cliff. >> we're all so interested in the all important weekend forecast. let's
NBC
Dec 23, 2012 6:00am EST
and then they have to come back and get back to the deficit-cutting deal if they can reach that later on. >> and president obama nominated john kerry as second of state. he has been in a good position to do this for a long time, and former nominee, of course, and he is well positioned to do that. he is very popular in the senate, and confirmation is all but assured. so that chapter has at least been closed for now. >> you have a lot to squeeze in today. >> we do, because i want to talk about the fiscal cliff and what it means for the president's agenda in the new year. between the gun debate and between immigration reform and the debt there is so much to do. and the idea that a president gets elected and has the wind at his back is misleading. >> thank you. >> happy holidays. >> thank you. >> can i take one of the poinsetti poinsettias? >> sure, yeah, look, we don't have enough. >>> another cool day ahead of us. >> let's check in with chuck. >>> you can give david a poinsettia. come on. we will talk about what the cold air will be doing when the moisture arrives tomorrow. ♪ i -- i got
CSPAN
Dec 26, 2012 1:00am EST
run for years over a trillion dollar deficits and it is time for us to do a big fiscal deal in washington that really drives down the trajectory of our debt. we have to do it. and then come in the senate, we have to get back to regular budgeting. i serve on the senate budget committee. since i have been! even before that, three years since we have any budget in t senate. -- since i have been there, even before that, three years since we have done a budget in the senate. >> new hampshire is a great model. >> absolutely. this to me is the number one overriding priority. and i want to be part of making sure that we finally start getting on the right fiscal track. it is not easy. but there is no easy answer to all of this. and programs like social security and medicare, we have to start talking about how we reform them. because, for example, medicare goes bankrupt in 2024. that is not that far off for people in this room who rely on it. or social security in 2033. we have to have those discussions right now to strethen america because nobody wants to see us see what happened ieu
CNN
Dec 28, 2012 11:00am PST
in terms of the deficit. nationally, you got all these people in the earlier segment playing blame game in washington. guess what? when you're spending more money than you pull in, eventually the money runs out. then you can blame all you want. but there is no money. for basic services, like police, like good education, all that stuff. they don't care about that. they spend the money on what they want to get elected. >> when you're saying that the previous mayor spent all the money, you're talking about mayor daly. rahm emanuel is in place now. >> right. >> he spent all the money on what? and then, two, what is the realistic proposal here to reverse the violence? >> well, over 20 years i can give you a laundry list of corruption and cronyism. but you know it well because you were here as well. and you saw it. there was a reporter once for "time" doing a cnn profile, comparing richard daly to andy of maybury and said he presides over chicago like andy of maybury. now that reporter is the press secretary for president obama. so there had been -- not you, obviously, but there had been peop
CSPAN
Dec 24, 2012 7:00am EST
are tough questions to answer. my priority is always education and our long term problems. i'm not a deficit hawk. people on both sides do bothwell. i don't understand the fuss about raising the age qualification for social security are medicare. and plead with the caps -- simply lift the caps. franklin roosevelt to not want to be called a socialist. if we just lived in those caps, we would delay -- i can remember the exact numbers. for several decades, anyway. i think that would be less painful than raising the qualified age. medicare is the toughest because of health care costs have been skyrocketing. our country's health care cost is rising faster than any other industrial nation. we don't have much coronation. obamacare had to be cobbled together to appease everybody. we have it and we should be focusing on ways to make our health care more efficient and i think we will. these are all tough problems but they need to be handled. being president is like playing three-dimensional chess. maybe four dimensions. caller: thank you, c-span. is the last year, didn't the president give over $1 tri
CSPAN
Dec 25, 2012 7:00am EST
to reduce the deficit and then double it, do you think the american electorate was cognizant of the fact that obama doubled in it instead of cutting it in half? why don't the american people care about the debt of the united states of america? guest: i do think they care about it. the economy is the number-one issue. guess what? then it comes down to things like jobs. then you come to the debt. it is not that americans are out of touch with the idea that the government is spending more money than we are taking in. there is lots of concern about whether or not the chinese is holding our debt. so, americans are very concerned and that the question is how you go about addressing this problem -- are very concerned. the question is how you go about addressing this problem. president obama and the democrats are saying we have a combined problem both in terms of not sufficient taxation and also we have to have cuts in spending. we have to do the cuts in spending over time because you do not want to endanger a very fragile economy. to respond directly to your question, why do i think the elector
FOX News
Dec 27, 2012 6:00am PST
to the debt and deficit. what impact does that have? >> i think that have essentially no impact. the u.s. has been growing since june of 2009. this is not a case where the government needs to step in and stop a free fall. the problem is we're growing too slowly. we are growing at rates that are 1, 1.5, 2%, and we should be growing at rates of 3 and 4%. to do that we need permanent fixes. fixes to entitlement programs, tax reform, that's the recipe for more rapid growth. it's also the same recipe for fixing the debt. gregg: how about 7 and 8% growth which is what happened this ronald reagan reduced the tabgts rates. the tax rates. >> that would be phenomenal. we haven't seen that since the 1980s. it will take a very big pla change in the playbook in washington for that to happen h. gregg: thank you very much. >> thank you. gregg: what will it cost you if washington can't make a deal before next week, something that is looking more and more likely? you can find out all you need to know on our website foxnews.com/politics. patti ann: new details now on a technological brea breakthrough that has
FOX News
Dec 22, 2012 3:00am PST
that millionaires or people who make more than $250,000, you tax them more that's going to solve the deficit problem that's just not so. i think it would be better for the country if we go over the fiscal cliff. and i'm not sorry this has failed. i do not think this has helped john boehner's speakership. >> that quote right there certainly didn't help the president's stance either. if you tax all the people that make more than 250 k that is the solution. >> the cbo didn't help him either with those numbers because $250,000 tax the cbo has said wouldn't solve the problem. >> this barely makes a dent. >> you have to cut spending obviously and that's what we think that howard dean was alluding to. meanwhile, charles krauthammer had an interesting theory on "special report" last night in which he also tried to figure out what the president's ultimate strategy is and what game the president is playing. i had not heard this theory before. let's listen to charles krauthammer. >> if he was only interested in the budget, in the fiscally balancing it, he would have said i don't care how you get the money. can
FOX News
Dec 23, 2012 3:00am PST
i've been working with leaders of both parties on a proposal to get our deficit under control. avoid tax hikes on the middle class, and to make sure we can spur jobs and economic growth. >> how we get there, god only knows. >> will an agreement bring positive change to the economy? former economic advisor to president reagan, art laffer is here. >> how is everything going? >> going we will on this end. not washington but on this end. there's recap for a second, if you will. the laffer curve that you game famous for. that's your theory on tax rates and revenue and it shows, the laffer curve, if you have a tax rate of zero obviously you correct zero revenue to run the government. if you have a tax rate, your theory holds of 100%, you also probably collect zero in revenue because you've disincentivized people to get to work. somewhere in your curve is the sweet spot of the tax rate that would allow for the most revenue. what is that sweet spot? >> i don't know where it is exactly, obviously. but i know the laffer curve, the operation in the upper income groups is much more sensitive to
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